California lawmakers have passed a bill that clears the way for the state to collect more than $1 billion a year in revenue from selling allowances in the nation’s CO2 cap-and-trade market, which is due to start next year.
On Tuesday, the California Assembly voted 47-26 to approve AB 1532, a bill written by Speaker John A. Pérez, which provides a framework for how the state will spend revenue generated by its carbon market.
